If you leave your money to it’s own devices, it WILL cheat on you. Like any good relationship, it takes regular input and love to keep it afloat.
Trust me, if you don’t show money some love, someone else will!
There is a very simple solution – start DATING your money! Literally sit down with your numbers and pay it some attention – this is how you fall in love with money again!
Why Money Date?
There are loads of reasons to keep in touch with what’s happening with your money! Let me tell you some of the things I think it helps with:
- You start to feel confident when thinking about money – you know how much you spend on the food shop, your bills etc, and with that knowledge comes power. From this place, you can start making decisions about WHAT you’re spending money on and asking yourself if it reflects your goals and values.
- You spot when something isn’t right EARLY – fraudulant transactions, double charges, unprocessed refunds…. all these things really do add up!
- You can track your progress and see how well you’re doing – net worth, debt repayments, savings goals, credit score etc. are all things to keep a close eye on and celebrate hitting milestones.
- Money doesn’t “cheat” on you with someone else! – there are plenty of people in this world who KNOW how to make money out of you. There are so many random “doodads” you could buy, and marketing experts know how to make you want it (even if you only just found out about it). Monitoring your money regular helps you to keep money staying with you, and not with someone else.
This is a really good question, because not everyone will want to do the same thing. At a minimum a monthly review is helpful. You can plan ahead and decide how every pound is going to be spent for the month. If you’re paid weekly, you might want to do this weekly instead.
Daily might be ok for some people, but not others. Personally I like monitoring my bank account daily so I can keep track of spending and check for any unexpected spends. You might see this as overkill, so it’s entirely up to you!
And then there are 6 monthly and yearly reviews. These are useful for checking when you’re overpaying on your utilities, setting savings goals and reviewing your net worth!
So now you have an idea (and a checklist!), you can get started straight away. January is a great time to get started, but if it isn’t January, don’t wait! Start at ANY TIME!
I can’t wait to see how you do – come and find me in the free Facebook Group.
Until next time,
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